Ogier advises Harmony Auto on US$40 million subscription of its subsidiary by BYD

Ogier's Corporate law team in Hong Kong acted as Cayman Islands counsel to Harmony Auto on BYD's US$40 million subscription in its subsidiary.

HKEX-listed China Harmony Auto Holding Limited (Harmony Auto) is a leading pure luxury and ultra-luxury car dealer group in the PRC. It owns brands such as Rolls-Royce, Bentley, Ferrari, BMW and Lexus. The target subsidiary is principally engaged in the overseas sales and after-sales services of Neighbourhood Electric Vehicles under the BYD brand.

The Ogier team was led by partner Cecilia Li, with support from the firm's global head of Corporate, Nathan Powell, legal manager Jasmine Chan and associate Kingston Tang. The team worked closely with Dechert LLP (Singapore).

"We are excited to work with Harmony Auto and BYD on this significant equity subscription, which underscores Ogier's proven expertise in cross-border equity raising transactions. This investment will help drive growth in the dynamic electric car sector," said Cecilia.

"Our longstanding experience advising on Cayman Islands law for merger and acquisition transactions enables us to deliver practical, timely solutions to our clients in Asia and globally."